It was a different story each side of the Atlantic for the captive giants when they announced their half-year results.

Ford Motor Credit’s profit, at $843m (£507m), was down 22% from $1.1bn in the first half of 2010.

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However, General Motors’ former captive Ally Financial’s $259m profit was 64% down from its $727m half-year profit last year.

In contrast, Volkswagen Financial Services announced a €321m (£279m) half-year profit, a steady 13% rise on the €283m announced in the same period last year.

BMW Financial Services, however, stormed ahead by announcing an impressive 93% increase in its half-year profit, up from €389m last year to €750m this year.

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